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Companion Animal Diagnostics Market Share

Report ID: GMI2927
Published Date: Mar 2023
Report Format: PDF

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Companion Animal Diagnostics Market Share

Thermo Fischer Scientific Inc.
Heska Corporation
Zoetis
IDEXX Laboratories
Virbac
Qiage
Neogen Corporation

are some of the key participants involved in the companion animal diagnostics market. These companies are engaging in strategic acquisitions and collaborations to remain ahead in the market. For instance, in January 2023, Heska Corporation, a veterinary diagnostic provider, acquired LightDeck Diagnostics, an animal diagnostic firm. With this acquisition, the company aims to expand its R&D and manufacturing capabilities.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market size for companion animal diagnostics registered a valuation of more than USD 5.5 billion in 2022 and is primed to progress at over 9.5% CAGR between 2023 and 2032 propelled by increasing cases of zoonotic diseases in domestic animals.

Immunodiagnostics segment is poised to be worth more than USD 6.5 billion by 2032 as a result of an upsurge in multiple zoonoses including leptospirosis, bovine ephemeral fever, viral respiratory tract infections, Johne's diseases, dermatophyte fungi, and infectious bovine rhinotracheitis, among others, in companion animals.

Veterinary clinics end-use segment is estimated to garner a valuation of over USD 8 billion by the end of 2032 owing to the corporatization of veterinary clinics, which is leading to the emergence of business chains.

North America companion animal diagnostics market is expected to grow at over 9% CAGR from 2023 to 2032 propelled by high pet care expenditure, growing adoption of pets, and a rise in the incidence rate of zoonotic diseases in the region.